Parc 55 San Francisco
A high-rise hotel near Union Square in San Francisco that has operated under several international hotel flags.
Last updated August 31, 2026
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Overview
Parc 55 San Francisco is a high-rise hotel in San Francisco, California, located near Union Square in the city's Tenderloin area. The property occupies a 350-foot, approximately 107-metre skyscraper and has operated under a succession of hotel names and management or franchise affiliations since opening in October 1984. Its original identity was the Ramada Renaissance Hotel, reflecting Ramada Inns' upscale Renaissance division. After a 1989 sale to Oakland developer Larry Chan's Park Lane Hotels, the property was renamed the Parc Fifty Five Hotel, a name that established the Parc 55 identity used in later rebrandings. The hotel subsequently became part of the Renaissance Hotels system. On April 30, 1998, it was reflagged as the Renaissance Parc 55 Hotel. This transition followed the separation of Renaissance Hotels from Ramada in 1989 and Renaissance's acquisition by Marriott in 1997. The San Francisco property was described as Marriott's 1,500th property worldwide at the time. Its Marriott affiliation ended on January 15, 2007, after Boston-based Rockpoint Group and Dallas-based Highgate Holdings acquired the hotel from Park Lane Hotels in 2006. The property then traded under the independent Parc 55 Hotel name before joining Wyndham Hotels in April 2010 as Parc 55 Wyndham San Francisco - Union Square. Ownership and brand affiliations changed again during the 2010s. The Blackstone Group acquired a 75 percent interest in the hotel in 2012. In February 2015, Hilton Worldwide acquired the property and renamed it Parc 55 San Francisco - a Hilton Hotel. The Hilton-era identity linked the hotel with one of the world's largest lodging groups while retaining the established Parc 55 name and its San Francisco location-based positioning. The property later became part of Park Hotels & Resorts, the real-estate investment trust spun off from Hilton Worldwide in 2017. In 2018, the building was valued at $512.2 million. In June 2023, Park Hotels & Resorts surrendered Parc 55 and the nearby Hilton San Francisco Union Square to lender JPMorgan Chase. The company cited difficult local operating conditions, including San Francisco's unusually high office vacancy, concerns about street conditions, a weaker return-to-office environment than in peer cities, and a convention calendar that had underperformed expectations. A receiver was appointed in October 2023 at the request of Wilmington Trust, acting for the mortgage lenders, to oversee the two properties and their disposition. After several delays to the proposed sale process, Newbond Holdings and Conversant Capital, two New York investment groups, purchased Parc 55 and the nearby Hilton San Francisco Union Square together in November 2025 for a reported combined price of $408 million. The transaction marked another ownership change for the hotel and reflected the sharp reduction from the combined properties' earlier appraised value. The available reference material does not identify a new hotel flag, a separate operating company, or a new public-facing website following that transaction. Accordingly, Parc 55 is best understood as a named hotel property whose identity has evolved through repeated ownership changes and reflagging rather than as a conventional standalone consumer brand.
History
Parc 55 San Francisco opened in October 1984 as the Ramada Renaissance Hotel. The name reflected Ramada Inns' upscale Renaissance division and established the property as a large, vertically oriented hotel in central San Francisco. In 1989, Oakland developer Larry Chan's Park Lane Hotels acquired the property. Following that transaction, the hotel was renamed the Parc Fifty Five Hotel, introducing the Parc 55 identity that would remain associated with the building through later changes in ownership and brand affiliation. The hotel entered the Renaissance Hotels system on April 30, 1998, when it was renamed the Renaissance Parc 55 Hotel. The transition occurred after Renaissance Hotels had separated from Ramada in 1989 and had been acquired by Marriott in 1997. The San Francisco property was recognized as Marriott's 1,500th property worldwide, linking it to Marriott's growing international lodging portfolio. Its period under the Renaissance name represented an effort to combine the established Parc 55 designation with an upscale chain affiliation. In 2006, Boston-based Rockpoint Group and Dallas-based Highgate Holdings purchased the hotel from Park Lane Hotels for $170 million. The Marriott relationship ended on January 15, 2007, and the hotel reverted to the shorter Parc 55 Hotel name. In April 2010, the property joined Wyndham Hotels and adopted the name Parc 55 Wyndham San Francisco - Union Square. This was another reflagging rather than a change in the building's core location or physical identity. The ownership structure changed in 2012 when The Blackstone Group acquired a 75 percent interest. Hilton Worldwide then bought the property in February 2015 and renamed it Parc 55 San Francisco - a Hilton Hotel. The Hilton affiliation was also significant at the portfolio level: Park Hotels & Resorts, which later held the property, was spun off from Hilton Worldwide in 2017. In 2018, the building was valued at $512.2 million. The next major phase began in 2023. In June of that year, Park Hotels & Resorts surrendered Parc 55 and the adjacent Hilton San Francisco Union Square to mortgage lender JPMorgan Chase. Park cited several conditions affecting San Francisco hotel performance: record-high office vacancy, concerns about street conditions, a slower return to office than in comparable cities, and a citywide convention calendar that had been weaker than expected. At the request of Wilmington Trust, the entity representing the mortgage lenders, Hotel Value Asset Enhancement was appointed receiver for both properties in October 2023. The receiver was initially expected to sell the hotels within 11 months, although a judge later extended the deadline. Following repeated delays, Newbond Holdings and Conversant Capital purchased the two hotels in November 2025 for a combined $408 million. The reported price was more than $1 billion below the properties' combined appraised value in 2016. The available reference does not establish a post-2025 chain affiliation, a new owner-specific name, or a separate corporate headquarters for Parc 55. Its documented history is therefore primarily a history of property ownership, lender control, and hotel-brand reflagging.
- 2025
Newbond and Conversant acquire the hotel
[1]Newbond Holdings and Conversant Capital purchase Parc 55 together with Hilton San Francisco Union Square.
- 2023
Surrender to lender and receivership
[1]Park Hotels & Resorts surrenders Parc 55 to JPMorgan Chase, and a receiver is appointed later in the year.
- 2015
Hilton acquisition and rebranding
[1]Hilton Worldwide purchases the property and adopts the Parc 55 San Francisco - a Hilton Hotel name.
- 2012
Blackstone takes a 75 percent interest
[1]The Blackstone Group acquires a majority ownership stake in the hotel.
- 2010
Wyndham reflagging
[1]The property joins Wyndham Hotels as Parc 55 Wyndham San Francisco - Union Square.
- 2007
Marriott affiliation ends
[1]The hotel leaves Marriott on January 15 and returns to the Parc 55 Hotel name.
- 2006
Rockpoint and Highgate purchase the hotel
[1]Rockpoint Group and Highgate Holdings acquire the property from Park Lane Hotels.
- 1998
Renaissance Parc 55 Hotel reflagged
[1]The property becomes the Renaissance Parc 55 Hotel and is identified as Marriott's 1,500th property worldwide.
- 1989
Park Lane Hotels acquires and renames the property
[1]Larry Chan's Park Lane Hotels buys the hotel and renames it the Parc Fifty Five Hotel.
- 1984
Ramada Renaissance Hotel opens
[1]The hotel opens in October as the Ramada Renaissance Hotel in San Francisco.
Products and positioning
A large urban hotel positioned around its proximity to Union Square and San Francisco's convention, business, and visitor districts, with its market identity shaped by successive affiliations with Ramada Renaissance, Marriott Renaissance, Wyndham, and Hilton.
Hotel lodging · 1984
Parc 55 hotel accommodation
The property's core offering is guest accommodation in a high-rise hotel near Union Square. Its documented identity has changed with successive flags, including Ramada Renaissance, Renaissance, Wyndham, and Hilton, while the Parc 55 name has provided continuity across those transitions.
Hospitality services
Meeting and event facilities
Parc 55 is described as offering meeting facilities in addition to lodging. These facilities support the hotel's role as a large urban property serving visitors, groups, and convention-related demand in central San Francisco.
Brand decisions
2025
Sale to Newbond Holdings and Conversant CapitalM&ABackground
The sale followed several delays during the receivership and marketing process.
Action taken
Newbond Holdings and Conversant Capital purchased Parc 55 together with the nearby Hilton San Francisco Union Square.
Aftermath
The combined transaction reportedly established new ownership, although the available reference does not identify a subsequent hotel flag.
Combined purchase price for Parc 55 and Hilton San Francisco Union Square. $408 million (November 2025)
2023
Surrender the hotel to the mortgage lenderStrategyBackground
Park Hotels & Resorts cited San Francisco office-market weakness, concerns about street conditions, a slower return to office than in peer cities, and a weaker-than-expected convention calendar.
Action taken
Park Hotels & Resorts surrendered Parc 55 and Hilton San Francisco Union Square to JPMorgan Chase.
Aftermath
A receiver was appointed in October 2023 to oversee the properties and their eventual sale.
2015
Hilton acquisition and rebrandingM&ABackground
Hilton Worldwide acquired the San Francisco property during a period of continuing ownership and flag changes.
Action taken
Hilton purchased the hotel and renamed it Parc 55 San Francisco - a Hilton Hotel.
Aftermath
The hotel entered Hilton's branded portfolio and was later associated with Park Hotels & Resorts after that entity's 2017 spin-off.
2010
Reflag under WyndhamStrategyBackground
After leaving Marriott and operating again as the Parc 55 Hotel, the property pursued another major-chain affiliation.
Action taken
The hotel joined Wyndham Hotels and became Parc 55 Wyndham San Francisco - Union Square.
Aftermath
The property retained the Parc 55 name while changing its chain affiliation.
1998
Adopt the Renaissance Parc 55 identityStrategyBackground
The hotel moved into the Renaissance Hotels system after Renaissance had separated from Ramada and become part of Marriott.
Action taken
The property was renamed Renaissance Parc 55 Hotel.
Aftermath
The hotel became associated with Marriott and was identified as Marriott's 1,500th worldwide property.
Recent events
- 2025
Newbond Holdings and Conversant Capital acquire Parc 55[1]
M&A
The two investment groups purchased Parc 55 and the nearby Hilton San Francisco Union Square together for a reported $408 million after multiple sale-process delays.
- 2025
Newbond Holdings and Conversant Capital acquire the two-hotel portfolio[1]
M&A
The two investment groups reportedly purchased Parc 55 and Hilton San Francisco Union Square together for $408 million after delays in the receivership sale process.
- 2023
Park Hotels & Resorts surrenders Parc 55 to its lender[1]
Other
Park Hotels & Resorts surrendered Parc 55 and Hilton San Francisco Union Square to JPMorgan Chase, citing challenging San Francisco operating and convention-market conditions.
- 2023
Receiver appointed for Parc 55 and Hilton San Francisco Union Square[1]
Other · Regulation
Hotel Value Asset Enhancement was appointed receiver at the request of Wilmington Trust, representing the mortgage lenders, to oversee the two properties and their sale process.
- 2015
Hilton Worldwide acquires and rebrands Parc 55[1]
M&A · Product launch
Hilton Worldwide acquired the property and renamed it Parc 55 San Francisco - a Hilton Hotel.
- 2015
Hilton acquires and rebrands Parc 55[1]
M&A · Product generation
Hilton Worldwide bought the property and introduced the name Parc 55 San Francisco - a Hilton Hotel.
- 2012
Blackstone takes a majority interest[1]
M&A
The Blackstone Group acquired a 75 percent ownership interest in the hotel.
- 2012
Blackstone takes a majority interest in the hotel[1]
M&A
The Blackstone Group acquired a 75 percent ownership interest in Parc 55.
- 2010
Parc 55 joins Wyndham Hotels[1]
Product launch
The hotel entered the Wyndham system and adopted the name Parc 55 Wyndham San Francisco - Union Square.
- 2007
The property leaves Marriott and returns to the Parc 55 name[1]
Leadership change
The hotel's Marriott affiliation ended on January 15, 2007, and the property resumed the Parc 55 Hotel identity.
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